Apogee Therapeutics, Inc. (NASDAQ:APGE) Given Consensus Rating of “Buy” by Analysts

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have covered the stock in the last year is $78.50.

Separately, Wedbush restated an “outperform” rating and set a $87.00 target price on shares of Apogee Therapeutics in a research note on Tuesday, November 12th.

Apogee Therapeutics Trading Down 4.1 %

Shares of APGE stock opened at $45.33 on Tuesday. Apogee Therapeutics has a twelve month low of $16.39 and a twelve month high of $72.29. The company has a market capitalization of $2.04 billion, a PE ratio of -18.73 and a beta of 2.93. The firm has a fifty day simple moving average of $54.74 and a 200-day simple moving average of $48.93.

Insider Activity

In related news, CFO Jane Henderson sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $48.26, for a total transaction of $289,560.00. Following the sale, the chief financial officer now directly owns 200,871 shares of the company’s stock, valued at approximately $9,694,034.46. This represents a 2.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Thomas Henderson sold 40,000 shares of Apogee Therapeutics stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $47.62, for a total transaction of $1,904,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,394,487 shares of the company’s stock, valued at approximately $66,405,470.94. This represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 120,995 shares of company stock worth $6,417,855. 36.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apogee Therapeutics

Large investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its stake in Apogee Therapeutics by 35.7% in the third quarter. Wellington Management Group LLP now owns 4,814,400 shares of the company’s stock valued at $282,798,000 after buying an additional 1,267,451 shares during the last quarter. Darwin Global Management Ltd. bought a new stake in Apogee Therapeutics in the 1st quarter valued at about $55,300,000. Vanguard Group Inc. boosted its stake in Apogee Therapeutics by 60.7% during the 1st quarter. Vanguard Group Inc. now owns 1,868,666 shares of the company’s stock valued at $124,173,000 after purchasing an additional 705,795 shares during the period. Waypoint Capital Advisors LLC bought a new position in Apogee Therapeutics in the 3rd quarter worth about $36,835,000. Finally, Janus Henderson Group PLC increased its stake in shares of Apogee Therapeutics by 4,018.9% in the third quarter. Janus Henderson Group PLC now owns 469,557 shares of the company’s stock valued at $27,586,000 after purchasing an additional 458,157 shares during the period. Institutional investors own 79.04% of the company’s stock.

About Apogee Therapeutics

Apogee Therapeutics, Inc, through its subsidiary, operates as a biotechnology company that develops biologics for the treatment of atopic dermatitis (AD), asthma, chronic obstructive pulmonary disease (COPD), and related inflammatory and immunology indications. The company primarily develops APG777, a subcutaneous (SQ) extended half-life monoclonal antibody (mAb) for AD; and APG808, an SQ extended half-life mAb for COPD.